Gift cards currently are plastic cards with preprinted messages and a magnetic stripe. The gift card uses the magnetic stripe as a digital storage media. Information recorded on the magnetic stripe includes a card identification, payor electronic access information and an authorization code recorded when purchased and activated using a card reading device. The payor electronic access information is read from the magnetic stripe by a card reading device when a purchase is made using the gift card for payment. The purchase receipt is printed including the card identification to show the payment source. The preprinted messages may include instructions for monetary balance inquiry by telephone or website access.